Tips for selling a house without intermediaries

Are you thinking about selling your house but you think it is very difficult to do it alone? Are you afraid of making a mistake but at the same time you do not have enough budget to pay the commission to the broker? Well, the process will require more effort, but it is certainly possible considering the following things and following these steps:

  • Valuation of the property

To know the commercial value of the property it is necessary to make an appraisal by means of private or through a bank. This will help you set the value at which you can sell your property. You can also get an idea by checking the values ​​of similar houses for sale in the commune or neighborhood.

  • Show housing

Show housing is not a minor detail. The way in which the interested parties see the property can be decisive at the moment of purchase. It is important that the property is tidy and clean at the time of the visit. I hope there are no people inside and the floors and carpet are clean, the pieces illuminated and both electrical system and plumbing work properly.

  • Choose the right person.

Once you have shown the house and have offers, choose the most reliable person, or the one that offers the best sum of money or is ready to carry out the procedures in less time. At this point you should choose.

  • Documentation

The documentation and processing is lengthy and could sometimes be seen as cumbersome, but if you know the logical steps, everything becomes clearer and seems easier. In addition, it considers that in general, the documentation and procedures should be put together by the buyer.

  1. You must first sign a purchase-sale promise, which assures the owner that the interested party will buy the property and the buyer that the owner will not regret selling for a period of time usually 3-6 months. In this contract, conditions are generally set as fines for those who do not comply, who regularly rely on the guarantee of a check for each party. The amount is fixed in the contract and is withdrawn once the purchase process is completed. At other times the seller charges the interested party a “reservation” to secure the purchase. This amount is then paid to the final value of the property.
  2. Once signed the promise the buyer can (it is not obligatory, but recommendable) to gather all the documentation to realize the study of title. This means thoroughly reviewing all owners who have had a property and there is no conflict of inheritance or other that may affect the future owner. This process can be done by the same buyer, advised or not by an attorney.
  3. Once the title study of the property for sale has been made, the deeds of the property are written. This document must also be written by the buyer’s lawyer. At this point we recommend the owner to be advised by a lawyer who can review the final document prepared to avoid misunderstandings in the final contract of sale.
  4. Now that all the documents have been reviewed by both parties and everyone agrees, the scriptures must be signed. Both owner and buyer must go to the notary’s office and sign the document. If there is a bank involved in the process, you must also sign.
  5. Registration with the Real Estate conservative. After signing the scriptures, the next step is to enter the property. This process should be done directly in the conservator or can even be done online in some communes. This process has a cost of 0.2% of the purchase value of the property with a cap of $ 262,200. If the purchase means a bank, then it is this one who performs the procedure.
  6. Depending on the commune and how the process was done, the certificates of ownership will be in more or less time, but usually takes between 2 and 3 months from the signing of writing. In some occasions the property is delivered at this point and other times it may be agreed to do so after signing the deeds.

EYE

  • A good idea to sell the property faster is to fix it, and present it as if it were new. The better the house looks, the more people will like it.
  • Now that you know that it is not so difficult, cheer up and do it yourself.

Tips for selling a house

It seems an impossible mission, given the current situation of the real estate market, however, selling our house is a challenge that can be achieved.

Order, cleanliness, comfort, warmth, functionality … Discover the most important aspects to take into account to sell the house. It strengthens its beauty and highlights its strengths.

  • Check the house thoroughly, do you need repairs?

Prepare a list with the pros and cons of your home. What are the strengths of the house? And the drawbacks? Be sure that your potential buyers will appreciate the inconveniences of the house, so we must have prepared a possible solution to any of your negative opinions. Is it far from the center of the city? You can note that it is a quiet and safe neighborhood.

And do not forget to check the state of the house by doing a thorough review of appliances and furniture (if you are interested in selling them too), pipes, electrical circuit, etc.

Check the entire house thoroughly and make a list of the repairs you should do before you sell the house. According to experts, if the customer has the impression that it is a good product, it will not have so many reasons to propose a price reduction.

  • Clean, neat and tidy

Before teaching the house to our potential buyers we must ensure that it is clean, impeccable and perfectly tidy. Check thoroughly to the last corner of the house and do not confine yourself to the superficial.

Remember that the lack of order and cleanliness causes immediate rejection to any possible client. In addition, the clutter will make potential buyers think that the home does not have enough storage space.

  • A coat of paint

If the house is equipped with furniture and basic appliances is quite attractive, as it conveys a sense of comfort. That is, our prospective buyers can imagine living there. But, besides, being furnished, we hide certain flaws that remain in the background.

Regardless of whether we are going to sell it furnished or not, experts also recommend applying a coat of paint to the walls. A gesture that marks the difference. In this sense, the ideal is to opt for white: it is elegant, luminous and conveys a sense of spaciousness and purity.

  • The kitchen and the bathroom

The kitchen and the bathroom are two spaces that completely determine the decision to buy many homes. So, if you can afford it, it might be interesting to do a little overhaul in any of these spaces.

  • Decoratet with the basics to gain breadth

Before we said that a furnished home makes the house more welcoming and attractive because we see it as a real home. However, furnished and equipped does not mean crowded with furniture and accessories that we do not really need.

The more elements the room has, the smaller the space will look. Therefore, our advice is to stay only with the things you really need.

  • Timeless and neutral

If the house is decorated, it is best to opt for a timeless and neutral interior. If we choose a decorative style with which our potential buyers do not feel identified, perhaps your first impression is not too good. Therefore, the look modern, minimalist is the best choice.

In this sense, remove from the rooms all the details that personalize the house, since they can condition the opinion of our buyers.

  • Create feelings

Light is life and power the attractiveness of our decoration, so it clears doors and windows to allow luminosity to enter the house.

And, as a finishing touch, it awakens the sensations of potential buyers by adding elements such as plants and flowers, fragrances and aromatic candles to the decoration. You can even recreate an idyllic image in the kitchen, in the dining room or in the living room. For example, a good breakfast or a comfortable reading corner in the living room with an armchair and a book.

How to Apply for Section 8 Emergencies

Program for Housing Choice Vouchers, commonly known as “Section 8”, assists low-income tenants to live in rental units are privately owned. The public housing authorities receive federal funds to administer this program. Facing a great need and demand for help, many authorities have long waiting lists or have stopped receiving applications for most potential tenants. Many applicants in turn, face an urgent need for housing because of a fire, natural disaster, the loss of their current residence for government action, and others. If you suddenly need help, the authority of the home could consider yourself a priority and possibly accelerate your path to housing assistance.

Instructions

  1. Search the authority of public housing in your area. One option is to consult the blue pages of the telephone directory under “Local Government Authority Public Housing “. Another option is to go to the website of the Federal Department of Housing and Urban Development for public housing authorities (see References). Select your state from the list or map. Scroll through the list of authorities to find your area.
  2. Investigate whether the authority housing has priorities or preferences for accepting applicants. Each authority sets its own priorities locally. These may include the homeless, residents in substandard housing, victims of domestic violence, and those who are forced to leave their homes for reasons such as government action, fire or natural disaster or for reasons beyond the control of the applicants.
  3. Find an apartment that accepts vouchers or payments Section 8. Click the link state on the Details page of the Federal Department of Housing and Urban Development State. Select the link “Get Help for hire”. Select “Search for a subsidized apartment.” Enter a city, county or postcode or the name of the property. Choose which type of disability, elderly, family or medical care. Click for the number of rooms you want to have the apartment window.
  4. Get application for Section 8 or Housing Choice Vouchers. Read it carefully before filling and delivering the requested information. Submit it to the authority of public housing in the area where you live. If the authority decides to grant you a voucher and approve the rental unit you selected, both read and sign the lease with the landlord and the assistance agreement with the authority of the house.

How do due diligence when buying an apartment

Investing in commercial real estate is a popular investment strategy, and diligence adequate due can mean the difference between a property that generates income or loss. This article will guide you through the steps leading investors in apartment complexes should take to protect against loss. Ultimately, the goal of diligence due is to create value.

How do due diligence when buying an apartment?

  1. Apply the income statement on an annual monthly, quarterly and the last five years. You must be able to discern trends in income and expenses.
  2. Graph the holiday gross, operating income and higher expenses in a spreadsheet. Here are the main drivers of net income and should be investigated carefully.
  3. Projected future income, time to fill vacancies and maintenance costs. You also need to know how many units are in the complex and the general state of these units.
  4. Create a sensitivity analysis on these variables to determine the effect of raising rents. Requests a report of vacancies and be sure to check all leases. You will have to know the average life of these agreements and expiration.
  5. Check all units to check conditions. This will provide a basis for negotiating the price. Notes of each unit needs repairs and estimates the associated costs.
  6. Divide the number of units for sale price. This will give an average cost per unit. Compare this to other resorts as well as rent per unit. You are looking for opportunities to create value.

Housing assistance for low-income families

There is a shortage of affordable housing for low-income families in the United States. Based on analyzing 2010 data, the National Low Income Housing Coalition (NLIHC) concludes that one full-time minimum wage cannot afford a fair price for renting a one bedroom apartment anywhere in the nation . Subsidized housing programs sponsored by the government intended to close the gap affordability.

Importance

The Department of Housing and Urban Development United States (HUD) for its acronym in English establishes income limits each year to inform eligibility guidelines for programs of social housing. At the bottom of the income scale are households with incomes below 30% of median income in your area. HUD these families classified as “extremely low”. According NLIHC, there was 9.2 million tenants in very low-income households in the country, from the American Community Survey 2008, but can only afford 6.1 million rental units in homes nationwide.

Purpose

Programs for low-income housing strive to increase the supply of affordable housing for needy families in the country. As NLIHC notes in consensus among housing experts is that if a family spends more than 30% of their income on rent and utilities, housing costs are not affordable. More subsidized housing plans are structured to ensure that participants in most cases do not exceed the 30% threshold. To lower housing costs, NLIHC argues that many low-income families settle for substandard housing and overcrowding.

Type

Virtually any program for low-income housing uses some form of subsidy. The two largest programs come from HUD. Or Section 8 Housing Choice Voucher program subsidizes private market segment in a low-income family in which the rent is greater than 30-40% of their income. The program consists in HUD public housing units owned and operated by local public housing agencies with affordable rents levels. Some cities run their own programs plus Section 8 and public housing. Many of the cities of San Francisco Bay Area, for example, use some kind of continuation of the program of market price. In Palo Alto, California, for example, Palo Alto Housing Corporation nonprofit (PAHC) administers the market rate below the city. Generally, households cannot be applied to live in one of the properties contained in the program if they earn more than 80% of median income of Palo Alto, according to PAHC website.

Considerations

Some programs contain a component of home ownership; however, the magnitude of these initiatives pales in comparison to the efforts to tenants. PAHC, for example, run “Below market rate purchase program” Palo Alto offering properties below market prices. The city of Palo Alto requires developers to make at least 15% of the units in buildings with five units or more below market sales opportunities. Other cities, including New York and San Francisco, running similar programs intended primarily for tenants.

Income Limits

Most income housing programs of social interest income used as the primary eligibility. Most postponed until the HUD income limits, which change every year and vary depending on location and household size. As mentioned efforts of Palo Alto, the program allows HUD public housing tenants below 80% of the average in your area. The Section 8 program limits the income to 50% of the average of the area; however, housing authorities must distribute 75% of their Section 8 vouchers to families below 30% of the average in your area.

Help with finding Section 8 housing

Housing and Development Urban US (HUD, for its acronym in English) provides vouchers for Section 8 housing for low-income residents. Residents receive these vouchers through the local HUD office; HUD pays a portion of the income of the resident, as he is in the Section 8 program is the responsibility of the tenant finds suitable housing once it reaches its housing voucher.

Narrowing the search

During the search for a Section 8 apartment, looking ads that specifically provide that the landlord accepts Section 8 tenant these owners have already agreed to participate in the Section 8 program, which means you cannot refuse for the sake of your financial situation and that the rent is at or below fair market price for their apartments. The owners of Section 8 are also used to dealing with representatives of HUD and may be more familiar with the requirements of inspection.

Location

It may be easier to find Section 8 housing in your city or county, as moving can be costly. However, Section 8 housing is a national program, therefore, can be used in any city in the United States, even if not the city where signed up vouchers. Consider contact HUD offices in other cities ahead of time to ensure you meet all the requirements of Section 8 housing in your new hometown.

Staying at home

If you are currently renting a house when applying Section 8, you’ll be able to stay in it. A representative of HUD should inspect your home to ensure that it meets the requirements of the program, such as having adequate space for all family members and all appliances are in good working order. The owner must also agree to accept Section 8 vouchers if the house meets these conditions will not have to move out once you receive your coupons.

Rental period

Once you find a suitable home and passes the inspection, you must sign a lease for at least a period of one year. During the period of one year, you must pay the rent on time and comply with all other terms of the lease. Your landlord must accept the rent and must make repairs when necessary during the rental period.

Buying a home

From 2011, you can use Section 8 vouchers to buy a house instead of renting if you buy first, and win at least US $ 10,853 per year and has been employed continuously for the past 12 months. You must attend an orientation session for homebuyers to learn about your responsibilities before you buy your home. This program works similarly to the way rental program: HUD’s local representative should inspect the house before you move home and if approved, pay a percentage of your mortgage costs each month.

Help for low-income homebuyers first

Buying a home is not something unattainable and those who do first have some advantages. If you did not buy or you were interested in a home in the last three years, you may qualify for rates lower interest rate or less fees. Also, you can qualify for a grant.

FHA

The Authority Federal Housing (FHA, its acronym in English), also known as HUD, allows homebuyers for the first time purchased with a down payment of 3.5%.Most mortgages require a minimum down payment of 20% unless the mortgage is insured. Any lender can offer FHA loan.

Other amounts

Grants are available for low-income buyers by state and are not necessarily limited to the purchase of a first home. According Down Payment Solutions, “you must meet the requirements established median income in your area.” Some grants cover the down payment and other costs, which are then returned when the house is sold.

Other options

The VA program is limited to eligible veterans and reservists and allows low-income buyers made no down payment or closing costs. Insures mortgage loans in rural communities, allowing a lower down payment. None is limited to first time buyers, but both have specific restrictions.

Advice

Homebuyers can qualify first for Assistance Act for Workers Homeownership and Business enacted in 2009, which extends the tax credit up to $ 8,000.